Agile Robots becomes a unicorn
The Munich-based robotics start-up receives money from Softbank, among others. Some Chinese industrial giants are also participating in the Series C financing round.
Germany has another unicorn: The robotics start-up Agile Robots broke through the one billion US dollar valuation mark with the closing of its Series C financing round. This added up to 220 million US dollars. Japan's Softbank Group is leading it through its Vision Fund 2. Also participating are Chimera Investments, GL Ventures, Sequoia China, Xiamoi Group and Foxconn International Internet, among others.
Agile Robots is a spin-off of the German Aerospace Center. Zhaopeng Chen and Peter Meusel are behind the company. With their company, founded in 2018, they want to produce robotic arms that can perform a whole range of activities. Among other things, Agile Robots' products are already being used by smartphone manufacturer Foxconn.
"Agile Robots combines artificial intelligence with advanced robotics technology to solve some of industry's toughest problems, and is the latest example of our continued support for the growing tech sector in Europe and China." said Eric Chen, managing partner at Softbank Investment Advisers. The Munich-based company now plans to use the newly raised money to kick-start series production and expand its sales structures.
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